The Stellar (XLM) against USD failed to break the support areas of $ 0.2699 on the 240-minute time frame due to the weakness of the bear in the coded currency technical price analysis. The Stellar is trading in a bearish trend currently under formation, and this trend is suffering from weakness as a result of the creation of a higher bottom during yesterday’s trading.
Technical price analysis chart:
The simple moving average and the slow moving average are neutral as a result of the lack of confirmation of the positive cross that occurred during yesterday’s trading. From MACD with regular settings, its signal is bullish.
Moreover, it is expecting that in the event of a break of the digital currency areas levels of $ 0.24500 may target levels of $ 0.20. On the other hand, in case of a breach of the encrypted currency levels of $ 0.2943 may focus the level of $ 0.37. Finally, it is in the downtrend.
The coin against USD rebounded from areas of $ 280.53 over the 240-minute time frame due to weak sellers in the bearish trend of the encoded digital currency. The digital money has a neutral view as a result of trading in a tight range, and the trend is still bearish.
The EMA 20 is neutral as a result of interference with the movement of the coded currency. Relative strength index is dull as a result of attempts to breach the bearish trend during the evening trading the previous day and until now. Moreover, the coin is on the neutral line.
Finally, we can conclude by just hoping that the crypto market will recover from the bearish trend and keep trust in bullish momentum.